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IMF Staff papers Volume 36 No. 3

Although accommodative policies and widespread indexation may account for the persistence of high inflation, they cannot explain changes in the inflation rate. The causes of such changes for the high-inflation episodes immediately preceding the recent “heterodox” attempts at stabilization in Argenti...

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Bibliographic Details
Corporate Author: International Monetary Fund Research Dept
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1989
Series:IMF Staff Papers
Subjects:
Inflation
Revenue Administration
Finance
Debt Reduction
Public Finance & Taxation
Currency; Foreign Exchange
Deflation
Debt Management
Debt
Exports And Imports
Asset And Liability Management
International Economics
Debts, External
National Government Expenditures And Related Policies: General
Expenditure
Sovereign Debt
Foreign Exchange
Price Level
Taxation, Subsidies, And Revenue: General
Expenditures, Public
Prices
Macroeconomics
Exchange Rates
Financial Risk Management
Public Finance
Revenue
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:Although accommodative policies and widespread indexation may account for the persistence of high inflation, they cannot explain changes in the inflation rate. The causes of such changes for the high-inflation episodes immediately preceding the recent “heterodox” attempts at stabilization in Argentina, Brazil, and Israel are examined by computing historical decompositions of these episodes based on vector autoregressions, distinguishing between the “fiscal” and “balance of payments” views of their causes. In all three cases, nominal exchange rate shocks played the dominant role in triggering an acceleration of inflation. [JEL 134]
Physical Description:228 pages
ISBN:9781451973037

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